Counseling Department

Financial Aid Presentation:

Class of 2017

Agenda:

1. 6:30pm – Welcome & Introduction

2. 6:35pm – Presentation:

‘Financial Aid 101 – the Basics’

3. 7:20pm – Break-Out Session:

Question & Answer Session

4. 8pm – Thank you & See you on

10/6/16 in the EHS Learning Center

to fill out the FAFSA on-line*!

*Last names A – L: 5-6:30pm / Last names M-Z: 6:30-8pm

Presentation Outline

1. Quick Comparison of Financial Aid Categories

2. Scholarships

3. Grants

4. Loans

5. Work Study

6. Determining Student Financial Need

7. FAFSA / CA Dream Act Financial Aid Application

Types of Financial Aid

Grants & Scholarships:

do NOT have to be re-paid

____________________________________________________

Loans:

DO have to be re-paid

________________________________________________

Work Study:

WORK

that is funded through the federal government

Scholarships & Grants:

• grants are bestowed on the basis of need

• scholarships are based on EITHER need and/or outstanding achievements

Loans:

• are available to both parents and students

• are subsidized by either the federal or state government, financial institutions

(private banks), or the college and may have lower interest rates than

regular loans

• in general, you do not start paying back these loans until after college

graduation

Work Study:

• allows the student to go to school while earning money toward their college

expenses

Quick Comparison

CHOLARSHIP

ScholarshipsScholarships ARE definitely worth

the time and effort required to apply.

You can find information about many different kinds of scholarships at the EHS Career Center, the EHS website –

Counseling tab, and on fastweb.com

Scholarships are awarded by colleges, states, the military, businesses, corporations, unions, or associations and can be:

• non-renewable/renewable each year throughout college

• scholarships for a particular attribute (academic, sport or special abilities)

• national scholarships for any college

• scholarships for a specific college

• scholarships that are need-based

ScholarshipsWHAT?

“A Hint of Local and Regional Scholarships” –Presentation & Compilation of Scholarships,

Mrs. Barcoma, EHS Counselor

WHEN?Tuesday & Wednesday , January 12th & 13th, 2017:

WHERE?ALL 12th Econ/Gov Classes

DUE:February 7th, 2017 (or earlier!) @ Counseling Office

GRANTS

GrantsFederal Pell GrantA grant awarded up to $5,775* based on need and cost of attendance. *this was that 2016 amount, 2017 amount will be released by the federal government in 2017

Federal Supplemental Educational Opportunity Grant

A grant awarded up to $4,000 based on need cost of

attendance – this grant varies by campus.

CA State University Grant Programs (CSUs) &

University of California Student Aid (UCs)

Need-based awards to eligible students who are

California residents – full system-wide fees (full tuition)

at CSUs or $14,000 on average at UCs (full tuition).

Grants for Particular Areas of Study

• Federal TEACH Grants

• Up to $3,724 a year for tuition

• Federal Loan Forgiveness for Teachers

• Forgives on federal Stafford loan debt

• Teach for America

• Up to $5,775 a year to repay loans plus other benefits

• Child Development Grant

• Up to $2,000 a year

• California National Guard Education Assistance Award

• $1,551 - $12,192

Grants, continued…

California STATE Grants:

Education Opportunity Program (EOP) GrantThis grant is given to historically low-income

and/or educationally disadvantaged students.

Award amounts vary by campus

(average award amount in 2015 was $811).

* * * Students interested in applying to EOP must submit an application TO EACH

CSU, Community College, or UC campus to which they have applied –

deadlines vary by campus. * * *

***individual campuses may extend their deadlines –

Contact individual campuses to verify

Once admitted as an EOP student, you may be eligible to:• enroll in an EOP summer program,

Summer Bridge, to strengthen your math, reading, or other skills

• Attend orientation sessions that are provided to help you learn about campus services and programs

• receive admission counseling, academic advising, peer mentoring

• Enroll in courses offered in conjunction with academic departments

• Attend student success workshops, tutoring, Graduation Writing Test preparation

• Services vary from campus to campus

Cal Grants

Cal Grant A is available to assist with tuition and fees for low and middle income students (3.0 GPA needed) at qualifying schools for an AA or BA/BS degrees = $12,294 x year at UCs / $5,472 x year at CSUs / $9,084 x year at Independent Colleges / $4,000 x year at Non-WASC Accredited for-profit institutions

Cal Grant B, disadvantaged background is also considered (2.0 GPA needed) 70and can be used for AA, BA/BS, and Certificate Programs = $1,670 stipend for 1st year of studies / Tuition & Fees plus $1,670 for 2nd, 3rd, 4th

year of studies

Cal Grant C, for AA or Certificate Programs only & Priority is Given to Occupational Goal***– low & middle income students (NO GPA requirement) = $547-$2,462 - for use on any school expenses including tuition & fees

***Occupational Goals meeting 2 of the 3 qualifications: high employment need, high employment growth, high wage in occupation areas determined by the State of California

Please note: The Cal Grant amounts listed above are school year 2016-2017 amounts

CalGrant –Middle Class Scholarship (MCS)The MCS is available to middle income students and there is no GPA requirement.

The MCS can be used at any UC/CSU campus - BA/BS degrees –

for the 2016-2017 School Year, the maximum amounts awarded to students were:

$3,690 x year at UCs / $1,644 x year at CSUs

FOR SCHOOL YEAR 2017-2018:

Maximum Award amounts will increase and cover from10% - 40% of UC/CSU tuition

**MCS amount is finalized for each student who qualifies in July/August after high school graduation since awards are based on campus budget allocations from

the State of California***Students can only be granted a MCS for a total of 4 years

***Students can not be granted both a CalGrant and a MCS

Students are Eligible for MCS:

• if they have less than 40% of their UC/CSU fees covered by grants/scholarships

• if their parental income is $156,000 or less

• if their parental assets are $156,000 or less

• if the student maintains ‘Satisfactory Academic Progress’

***@ School Year 2014-2015, 85,394 students were awarded =

16,224 students at UCs and 69,170 students at CSUs

Cal Grants, continued

Per new California State Law:

All California High Schools, including EHS,

must electronically submit all GPAs for ALL SENIORS

to the California Student Aid Commission for Cal Grant consideration

***this electronic submission will happen automatically for all EHS Seniors on 10/6/16****

***Seniors ONLY need to notify their counselor if they wish to NOT be considered for a Cal Grant award, and if instead they want to

OPT OUT of the Cal Grant GPA submission process

The only thing that Seniors have to do in order to see which Cal Grant they may qualify for is to submit their one free application for financial aid

this Fall, anytime beginning on October 1st!

***PLEASE NOTE: The California Student Aid Commission & the US Department of Education review graduation rates and loan default rates at

every California college each year to determine if Cal Grants will be provided at each campus = www.csac.ca.gov, click on the link at the bottom

of the page “Cal Grant Ineligible Schools”

How to monitor your CalGrant:CALGRANT AWARDS WILL BE PROCESSED AS EARLY AS NOVEMBER 1ST!!

• Create a student web-portal on the CalGrant student website,

called “WebGrants 4 Students” =

https://mygrantinfo.csac.ca.gov***Must be created one week AFTER submitting financial aid application

How will I know if I qualified for a CalGrant & do I do next?

1. Create a WebGrants4Students account one week after submitting your financial aid application

2. CalGrant award notification will be posted online in WebGrants4Students and a CalGrant Award notification letter will be mailed home

3. Notify CSAC which college you will be attending next school year so that they can know where to send your CalGrant money – you can notify CSAC beginning as early as February 2017

4. After graduating in June 2017, log-in to WebGrants4Students and notify CSAC that you graduated!

• Mark these addresses as NOT ‘junk mail’: calgrantoffice@csac.ca.gov /studentsupport@csac.ca.gov

#1 Tip for successful CalGrant processing:

USE YOUR LEGAL NAME,

AS LISTED ON YOUR SOCIAL SECURITY CARD/BIRTH CERTIFICATE

ON EVERY APPLICATION THAT YOU SUBMIT, STARTING NOW!

• The California Student Aid Commission runs a demographic match (legal name, address, date of birth, etc.) of Seniors’ identifying information (provided by each family at the

beginning of the year at EHS Registration), and the student’s tax information provided on their financial aid application

• The number one reason why some students are not able to see if they qualified for a CalGrant in their WebGrants account is

because the student has not used their legal name on some/all of their: financial aid application, school records, online

accounts

LOANS

LoansThere are four main types of federally-funded loans

with lower interest rates/special repayment options,

and these loans are easier for students

with no established credit to qualify.

_____________________________________________

Federal Perkins Loan

A campus-based loan with a 0% interest rate during school and no fees.

The interest rate is currently fixed and 5%. Students can borrow up to

$5,500/year for undergraduate studies. A student must start to repay the

loan 9 months after graduation, leaving school, or dropping below half-

time status. Typical monthly repayments on this loan range from $30 to $150

depending on the total amount borrowed.

Loans, continued…Dependent students can borrow up to $5,500 in their first year of college

in Federal Stafford Loans:

Federal Subsidized Stafford LoanA loan based on need from a lending institution that is guaranteed by the state or other private nonprofit agency. The federal government pays the interest on the loan while you are attending college. Repayment begins six months after the student graduates, leaves school, or drops below half-time status.

Federal Unsubsidized Stafford LoanWith this loan the interest accrues while the student is attending school, but the student may elect to make monthly payments on the loan’s interest while in school to lower the repayments after leaving school. A student must be attending college at least part-time and are not required to show need. The student is responsible for repaying the loan and interest.

** interests rates on these loans are set by Congress in the Spring of each year = 3.76% for School Year 2016-2017 ***

Are loans really worth it?

Loans, continued…

Federal Parent Loan for Undergraduate Students (PLUS)

This loan amount is determined by the costs remaining after consideration of other financial aid, so that you could borrow the entire cost of education minus financial aid received.

The interest rate is set at 6.31% for school year 2016-2017 (each year the rate is set for the life of the loan) and the loan is available regardless of income but you will have to meet the lending institution's requirements (i.e. credit check).

Must have no debts delinquent 90 days or more; no defaulted loans, outstanding tax liens, unpaid judgments, bankruptcy, foreclosure or wage garnishment within the past five years.

The repayment begins 60 days after the last disbursement of the academic year, and can be deferred until 6 months after student ceases to be enrolled in college.

WORK STUDY

Work Study

• these jobs are funded through the federal

government and refer to the fact that the

government pays a percentage of the student’s

‘work study’ salary, and the employer pays

the remaining percentage of the ‘work study’

salary

• this program encourages community service

work and work related to your course of study

• students have to be enrolled at least half-time

and demonstrate positive academic standing

How do we sign-up for these things?

By submitting one of the following

two financial aid applications,

starting on: October 1, 2016

Note: Some colleges will make financial aid awards earlier than Spring of 12th grade, and other will not

CSAC recommends: collegescorecard.ed.gov = allows for cost comparison of schools based on data that the US Department of

Education requires from all colleges across the country

FAFSA

WHAT IS IT?

• It is the Free Application for Federal Student Aid administered by

the U.S. Department of Education

• It is the FREE application that ANY student who is a U.S. Citizen /

Legal U.S. Resident SHOULD fill out and submit if they want to be

considered for ANY type of financial aid

• Filling out the FAFSA does NOT obligate the student to accept the

financial aid offered to them by their college of choice

• After filling out the FAFSA and receiving a financial aid package

from a college – a student can ACCEPT or DECLINE ANY part of their

package

FAFSA ApplicationApplicants must meet one

of the following criteria:• I am a U.S. Citizen, or U.S. National, or a U.S. Permanent Resident with an I-551 or I-551C

(Permanent Resident Card)

• I am one of the following:

• Person with an arrival-departure record (I-94) from U.S. Citizenship and Immigration Services (USCIS) showing one of the following designations:

• Refugee

• Asylum Granted

• Cuban-Haitian Entrant, status pending

• Conditional entrant (valid only if issued prior to April 1, 1980)

• Victim of human trafficking, T-Visa Holder (T-2, T-3, T-4, etc.)

• Parolee (you must be paroled into the U.S. for at least one year and you must be able to provide evidence from the USCIS that you are in the U.S. for other than a temporary purpose and that you intend to become a U.S. Citizen or permanent resident)

• A person who is a battered Immigrant-Qualified Alien

• Person who is a battered immigrant-qualified alien

***NOTE: SEE THE INSIDE OF YOUR FINANCIAL AID FOLDER

FOR THIS LIST OF QUALIFYING CRITERIA

WHAT IS IT?

• It is the Free Application for California Student Aid administered by

the California Student Aid Commission

• It is the FREE application for financial aid that ANY student who

meets the qualifications set forth by California law SHOULD

complete

• Filling out the CA Dream Act application does NOT obligate the

student to accept the financial aid offered to them by their college

of choice

• After filling out the CA Dream Act application and receiving a

financial aid package from a college – a student can ACCEPT or

DECLINE ANY part of their package

CA Dream Act

California Dream Act Financial Aid Applicantsmust meet the following criteria:

**criteria set forth by the California State Legislature and administered by the California Student Aid Commission,

www.csac.ca.gov

***NOTE: SEE THE INSIDE OF YOUR FINANCIAL AID FOLDER

FOR THIS LIST OF QUALIFYING CREITERIA

CSS Profile –Private College Application

**** www.collegeboard.com ***

• CSS/Financial Aid PROFILE® is the financial aid application service of the College Board. More than 500 colleges, universities, graduate and professional schools, and scholarship programs use the information collected on the PROFILE to determine eligibility for nonfederal student aid funds.

• You should register for PROFILE as soon as you're sure about where you are applying for aid.

• You are charged an application fee of $25, plus $16 for each college or scholarship program to which you want information sent.

• Have your tax returns and financial documents handy. Ideally, you'll have already completed your tax return for the most recent tax year.

• You should leave plenty of time to fill out the form. Start your application at

least one week before intending to complete the form.

• Save time by using the pre-application worksheet.

DETERMINING STUDENT

FINANCIAL NEED

Financial Aid Eligibility

• is calculated by a process called need analysis

• this is based on the FAFSA (Free Application for

Federal Student Aid) / California Dream Act Financial

Aid Application

• is analyzed according to a formula designated by

Congress

• this need analysis will determine how much money a

student and their family are expected to pay for a

college education

Student Financial Need Analysis Process

Cost of Education MINUS expected Family Contribution

EQUALS Financial Need

Costs of Education:

consists of tuition, fees room/board,

books, supplies transportation.

_____________

Expected Family Contribution (EFC):

is based on the financial resources of a

student and his or her family (based on the FAFSA).

____________________

____________________

Financial Need:

Students can receiveup to this amount ofneed-based financial aid.

How will we PAY our EFC?

• The EFC (Expected Family Contribution) amount will

be paid through your financial aid package.

• This will be a combination of grants, scholarships,

and/or work study monies.

• If there is any remaining financial need, it will be considered for loans.

* * * A pamphlet called, Expected Family Contribution, explains how the EFC formulas are calculated and is available from:

• Federal Student Aid Information Center (US Department of Education) –

http://federalstudentaid.ed.gov/index.html

www.fafsa.gov

FAFSA

www.fafsa.gov

www.caldreamact.org

California Dream Act

Financial Aid Application

www.caldreamact.org

FAFSA: Step #1

*CA Dream Act does not require the creation of an FSA ID

FAFSA, continued…

WHEN TO APPLY?

• It is recommended that all Seniors file a FAFSA as early as possible

beginning on October 1st

• The FAFSA priority filing date in California is March 2nd in order to be

considered for ALL financial aid

• SUBMIT your FAFSA ON-LINE in the Fall, before EACH year you plan on

attending ANY institute of post-secondary education (CSU, UC,

Technical/Vocational Institute, Community College, Private College)

FAFSA, continued…

QUICK TIPS:

• Do NOT wait to find out if you have been admitted to your

school of choice before you file the FAFSA!

• Avoid financial aid funding delays by:

• Filing on time

• Using accurate information

• Following FAFSA instructions carefully

• Keeping the Financial Aid Office informed of

your current address

* * File the FAFSA every year you

want to be considered for Financial Aid!

FAFSA – Step #2:Gather necessary documents:

• Student’s and Parent’s Social Security numbers and driver's licenses

• W-2 Forms or other records of income earned

• Student’s Federal Income Tax Return if you filed/will file * * *

• Parent’s Federal Income Tax Return* * *, if you are a dependent student

• Current bank statements and records of stocks, bonds, and other investments

• Business or farm records, if applicable

• Your permanent resident card (if you are not a U.S. citizen)

IMPORTANT:

Current Seniors must use 2015 Tax information for filling the FAFSA

The vast majority of high school Seniors are ‘DEPENDENT’ students and therefore

must, by law, provide PARENT income information on the FAFSA:

Whatdoes

‘household size’

mean?

2015 TAXES links from IRS to FAFSA!!

AND YOU’RE DONE! …

after you SIGN & SUBMIT your FAFSA using your FSA ID

AND YOU’RE DONE! …

and after your PARENT signs your FAFSA with their FSA ID

PRINT YOUR CONFIRMATION PAGE AND KEEP FOR YOUR RECORDS

PRINT YOUR CONFIRMATION PAGE AND KEEP FOR YOUR RECORDS

***Please Note: About 30% of FAFSA filers are randomly selected for the

‘verification’ process –This means that after submitting your FAFSA, your college’s

financial aid office will notify you in your student web portal that you must provide proof of your parents/your income

with the college’s financial aid office

CONTACT FAFSA or the Financial Aid Officeif you have questions like the following:

• Questions regarding who is considered a parent

• Questions regarding residency

• Questions regarding social security numbers

• Questions regarding ‘GI Bill’ benefits for education

Submitting your FAFSA/CA Dream Act Financial Aid Application:

Attend our EHS FAFSA Work Night next week on: Thursday, October 6th

With Financial Aid Advisors from CSU San Marcos********

5-8pm in the EHS Learning Center:

If possible arrive between

5-6:30pm – Last Names A-L

6:30-8pm – Last Names M-Z*********

If you would like to fill out your application STEP-BY-STEP

with REAL people available

to answers questions for you -

BRING

ALL OF YOUR NECESSARY DOCUMENTS –

• including the forms included in the folder you received today

• A copy of you and/or your parent(s’) 2015 Taxes

AND THEN WHAT?

• No later than 2 weeks after submitting your FAFSA/CA Dream Act Financial Aid

Application you will receive a Student Aid Report (SAR), a list of all of your

financial aid application’s answers, at the email address you provide when

you submitted your application.

• Upon accessing your SAR on-line, you should REVIEW all of the information

and submit any changes/updates necessary.

• LOOK in your STUDENT WEB PORTAL (for each of the campuses to which you

have applied, including Palomar College) for your FINANCIAL AID PACKAGE

from the colleges/institutions to which you have been admitted.

Appeals Process

Upon receiving a financial aid package- from the school you plan to attend:

• Review the package –• Do you have the grants for which you think you

qualify?

• Do you have the loans you want?

• Do you have the work study you want?

• If NOT, then:

• Write a letter to that school’s Financial Aid Office explaining why you believe you deserve X,Y, or Z

• Call to follow-up on the receipt and processing of your ‘appeal letter’

References

• California Student Aid Commission:http://www.csac.ca.gov

• CSU Mentor: http://www.csumentor.com/finaid

• this is an excellent and user-friendly source of accurate financial aid information for California students entering any institution of post-secondary education (Community College, UC, CSU, Technical/Vocational Schools, Private College)

• Federal Student Aid Information Center (US Dept. of Education): http://studentaid.ed.gov

• this is not as user friendly as the CSU Mentor site